DUNDALK, IRELAND — Two Irish entrepreneurs have formed an electronic marketplace to sell resin and offer services to the European plastics industry. The new Dundalk-based company, Allplastx.com Ltd., features an online auction and catalog sales for thermoplastic commodity and engineering resins and thermosets. The European portal was announced May 24.
The site, www.allplastx.com, initially will target plastics processors in the United Kingdom and Germany and eventually will roll out to other countries. It will also feature technical information, a recruitment center, new product announcements and an industry events calendar.
Investors include Dundalk-based consultants Peter Agnew and John McConnell and an Irish venture capital group. The company expects to invest 25 million Irish punts (US$28.5 million) in the first year to develop the site.
The company also is negotiating another round of financing for expansion. Its goal is to manage more than $1 billion in transactions throughout Europe within five years.